1. COINVEST: Competitiveness, Innovation and Intangible Investment in Europe Annarosa Pesole, Queen Mary University London Co-ordinator: Jonathan Haskel, Imperial College London Project funded by the European Commission under the 7 th Framework Programme for Research and Technological Development, Theme 9 Socio-economic Sciences and Humanities. Grant no. 217512 www.coinvest.org.uk

2. Innovation Economy and Policy Interest Innovation economy and productivity growth Activity and Impact on productivity might be hidden by data problems

3. Purpose of the project 1.Extend and improve the measurement of intangible investment (Hidden Activities) 2.Examine the effects on the economy (Hidden Impact) 3.Study intangibles investment at firm level

4. Plan of Work - macro side Activity: - gradual incorporation of software as investment (2007) and R&D (2012) OECD work -inclusion of a broader category of intangibles Impact: -Recalculate investment and GDP. -Revisit productivity performance and source of growth

5. Plan of work – micro side Improve the micro-data available on innovation using different firm level information (CIS, company accounts, etc) Develop better estimates of: Prices Depreciation Spending/investment

6. Sample UK results for 2004

7. Intang investment by type (% total)

8. Countries Countries: UK, Belgium, Portugal, Sweden, Bulgaria, Germany, France Start date: April 1 st 2008, 2 year project Contacts, j.haskel@imperial.ac.uk, a.pesole@qmul.ac.ukj.haskel@imperial.ac.uka.pesole@qmul.ac.uk coinvest@qmul.ac.uk